IMF hail The Egyptian economic reform programs

Jihad Azour, Head of the Middle East and Asia Department of the International Monetary Fund, said that Egypt is one of the countries that achieved financial stability and strengthened the investment climate.

In his speech at the 23rd Annual Arab Banking Conference, which kicked off Thursday in Beirut, Azour hailed economic reform programs in Egypt.

Azour explained earlier that the conditions experienced by the Egyptian economy before the state took these measures were difficult as the deficit worsened, the sharp decline in revenues, the entry of foreign exchange to the country and the limited exports, which adversely affected the economic and financial situation in the country.

He pointed out that the financial and monetary conditions in Egypt improved after the big step of the first phase of economic reform, which was led by the Central Bank and focused on monetary and financial reform, which can be seen in the great improvement in the exchange market and the movement of cash flows, the disappearance of the black market of the dollar, And remittances of Egyptians working abroad.